What closing costs should you expect?

There are certain ordinary expenses accompanying closing the sale of a house. These fees are often divided between the buyer and seller, as dictated in the sales contract. Many are conventional, but there are nuances to each, so you'll want a real estate expert in Florida to help guide you through the process.

Loan-related closing costs    (Click here for details)

  • Points (optional)
  • Appraisal Fee
  • Credit Report
  • Interest Payment
  • Escrow Account

At closing, the following taxes are usually paid    (Click here for details)

  • Property Taxes
  • Transfer Taxes and Recording Fees

Insurance fees due at closing    (Click here for details)

  • Homeowners Insurance
  • Flood or Quake Insurance (optional)
  • Private Mortgage Insurance (PMI) (optional)
  • Title Insurance

Sellers: As we hammer out your transaction, I'll not only work to get the highest sales price, but I'll also advocate for lower closing costs. And once we've come to an agreement, I'll give a detailed list of the closing costs so you are informed of exactly where your money is going.

Buyers: If you're purchasing a home in Palm Beach County, you will get a "Loan Estimate" (LE) of closing costs within three days of submitting your loan application. The estimate is based on the loan officer's prior experience and is required to be within an appropriate range so you're not startled when you get to the closing appointment. I'll be willing to look at the LE with you, answering your questions and highlighting any estimates of concern.

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Carole Maddox

Broker Associate at My Florida Realty LLC

10144 West Indiantown Road
Jupiter, FL 33478